KB Financial Group (NYSE:KB) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of KB Financial Group Inc (NYSE:KB) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $111.53 and traded as low as $110.55. KB Financial Group shares last traded at $110.8050, with a volume of 246,773 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings downgraded KB Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Zacks Research raised KB Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

KB Financial Group Trading Down 1.0%

The firm has a market cap of $39.30 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09. The business has a 50 day moving average of $122.84 and a 200 day moving average of $111.53. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.53.

KB Financial Group (NYSE:KB) last announced its earnings results on Friday, August 14th. The bank reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.16. KB Financial Group had a net margin of 17.67% and a return on equity of 10.11%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. On average, research analysts forecast that KB Financial Group Inc will post 13.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KB Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its position in shares of KB Financial Group by 2.8% in the first quarter. Lazard Asset Management LLC now owns 1,457,537 shares of the bank’s stock valued at $145,360,000 after buying an additional 39,764 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of KB Financial Group by 20.3% during the first quarter. Bank of America Corp DE now owns 1,068,416 shares of the bank’s stock valued at $106,553,000 after buying an additional 180,590 shares during the period. Royal Bank of Canada boosted its position in KB Financial Group by 18.7% during the first quarter. Royal Bank of Canada now owns 342,236 shares of the bank’s stock worth $34,131,000 after acquiring an additional 53,952 shares during the last quarter. WCM Investment Management LLC acquired a new stake in KB Financial Group during the first quarter worth approximately $24,497,000. Finally, Trinity Street Asset Management LLP boosted its position in KB Financial Group by 141.4% during the second quarter. Trinity Street Asset Management LLP now owns 146,667 shares of the bank’s stock worth $15,394,000 after acquiring an additional 85,904 shares during the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

KB Financial Group Company Profile

KB Financial Group Inc is a South Korean financial holding company headquartered in Seoul. Established in 2008, the group operates through a broad network of financial subsidiaries led by KB Kookmin Bank, one of South Korea’s major commercial banks. Its American depositary shares trade on the New York Stock Exchange under the symbol “KB.”

KB Financial Group provides a wide range of financial products and services, including retail and commercial banking, corporate finance, credit cards, securities brokerage and investment banking, insurance, asset management, consumer finance, and savings banking.